(a)  The department‘s authorization to insure health facility construction, improvement, and expansion loans under this chapter shall be limited to a total of not more than three billion dollars ($3,000,000,000).

(b)  Notwithstanding the limitation in subdivision (a), the department may exceed the specific dollar limitation in either of the following instances:

(1)  Refinancing a preexisting loan, if the refinancing results in savings to the health facility and increases the probability that a loan can be repaid.

(2)  The need for financing results from earthquakes or other natural disasters.

(Amended by Stats. 2021, Ch. 143, Sec. 269. (AB 133) Effective July 27, 2021.)